Press Releases

Can-Fite Receives Notice of Allowance From U.S. Patent and Trademark Office for Osteoarthritis Drug

Company has been granted osteoarthritis patents in numerous major
markets

PETACH TIKVA, Israel--(BUSINESS WIRE)--
Can-Fite
BioPharma Ltd. (NYSE American: CANF) (TASE:CFBI), a biotechnology
company advancing a pipeline of proprietary small molecule drugs that
address cancer, liver and inflammatory diseases, today announced that it
has received a Notice of Allowance from the U.S. Patent and Trademark
Office for its patent application titled, “Use of A3 adenosine receptor
agonist in the treatment of Osteoarthritis." This patent addresses
methods for treating osteoarthritis with A3 adenosine receptor (A3AR)
agonists and has been granted to Can-Fite in major global markets
including North and South America, Europe and Asia.

Osteoarthritis is a common joint disease impacting ageing populations
and represents an $8 billion global treatment market in 2017 and is
expected to rise to $11.6
billion by the end of 2025 according to Persistence Market Research.

Extensive research carried out by Can-Fite’s scientists suggests that
A3AR agonists such as Piclidenoson may be useful in the treatment of
osteoarthritis. Data on Piclidenoson’s anti-inflammatory effect and
prevention of cartilage damage in osteoarthritis, as well as its
mechanism of action, were published in the scientific journal Arthritis
& Rheumatism.

“The notice of allowance for this patent application is designed to
secure Can-Fite’s proprietary rights in a commercially very important
and lucrative therapeutic indication,” said Dr. Ilan Cohn, the Company’s
Chairman of the Board and Senior Partner of Israel’s largest
intellectual property firm, Reinhold Cohn and Partners. “This new patent
application adds significant value to Can-Fite’s very extensive and
valuable patent estate and may provide the platform for developing
Can-Fite’s proprietary A3AR agonists for osteoarthritis, where there is
a market need for efficacious and safe drugs.”

About Osteoarthritis

Osteoarthritis is a common joint disease that results from the breakdown
of the cartilage of the joints and the deterioration of tendons and
ligaments that can lead to pain and inflammation. The disease tends to
occur in the hands, spine, hips, knees, and feet. The prevalence rate of
osteoarthritis in the United States has been on the rise due
to an increasing elderly population and rising rates of obesity.
According to the U.S. Centers for Disease Control and Prevention (CDC),
over 50
million Americans suffer from arthritis. Osteoarthritis is a top
cause of disability in older people according to the American
College of Rheumatology. Effective treatment options for osteoarthritis
focus on reducing the pain and inflammation in the joints while
protecting the joints from further damage.

About Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) is an
advanced clinical stage drug development Company with a platform
technology that is designed to address multi-billion dollar markets in
the treatment of cancer, inflammatory disease and sexual dysfunction.
The Company's lead drug candidate, Piclidenoson, is currently in Phase
III trials for rheumatoid arthritis and psoriasis. Can-Fite's liver
cancer drug, Namodenoson, is in Phase II trials for hepatocellular
carcinoma (HCC), the most common form of liver cancer, and for the
treatment of non-alcoholic steatohepatitis (NASH). Namodenoson has been
granted Orphan Drug Designation in the U.S. and Europe and Fast Track
Designation as a second line treatment for HCC by the U.S. Food and Drug
Administration. Namodenoson has also shown proof of concept to
potentially treat other cancers including colon, prostate, and melanoma.
CF602, the Company's third drug candidate, has shown efficacy in the
treatment of erectile dysfunction in preclinical studies and the Company
is investigating additional compounds, targeting A3AR, for the treatment
of sexual dysfunction. These drugs have an excellent safety profile with
experience in over 1,000 patients in clinical studies to date. For more
information please visit: www.can-fite.com.

Forward-Looking Statements

This press release may contain forward-looking statements, about
Can-Fite's expectations, beliefs or intentions regarding, among other
things, market risks and uncertainties, its product development efforts,
business, financial condition, results of operations, strategies or
prospects. In addition, from time to time, Can-Fite or its
representatives have made or may make forward-looking statements, orally
or in writing. Forward-looking statements can be identified by the use
of forward-looking words such as "believe," "expect," "intend," "plan,"
"may," "should" or "anticipate" or their negatives or other variations
of these words or other comparable words or by the fact that these
statements do not relate strictly to historical or current matters.
These forward-looking statements may be included in, but are not limited
to, various filings made by Can-Fite with the U.S. Securities and
Exchange Commission, press releases or oral statements made by or with
the approval of one of Can-Fite's authorized executive officers.
Forward-looking statements relate to anticipated or expected events,
activities, trends or results as of the date they are made. Because
forward-looking statements relate to matters that have not yet occurred,
these statements are inherently subject to risks and uncertainties that
could cause Can-Fite's actual results to differ materially from any
future results expressed or implied by the forward-looking statements.
Many factors could cause Can-Fite's actual activities or results to
differ materially from the activities and results anticipated in such
forward-looking statements. Factors that could cause our actual results
to differ materially from those expressed or implied in such
forward-looking statements include, but are not limited to: the
initiation, timing, progress and results of our preclinical studies,
clinical trials and other product candidate development efforts; our
ability to advance our product candidates into clinical trials or to
successfully complete our preclinical studies or clinical trials; our
receipt of regulatory approvals for our product candidates, and the
timing of other regulatory filings and approvals; the clinical
development, commercialization and market acceptance of our product
candidates; our ability to establish and maintain corporate
collaborations; the implementation of our business model and strategic
plans for our business and product candidates; the scope of protection
we are able to establish and maintain for intellectual property rights
covering our product candidates and our ability to operate our business
without infringing the intellectual property rights of others; estimates
of our expenses, future revenues, capital requirements and our needs for
additional financing; competitive companies, technologies and our
industry; statements as to the impact of the political and security
situation in Israel on our business; and risks and other risk factors
detailed in Can-Fite's filings with the SEC and in its periodic filings
with the TASE. In addition, Can-Fite operates in an industry sector
where securities values are highly volatile and may be influenced by
economic and other factors beyond its control. Can-Fite does not
undertake any obligation to publicly update these forward-looking
statements, whether as a result of new information, future events or
otherwise.